https://en.sputniknews.africa/20230719/sa-inflation-slows-more-than-target-number-for-first-time-in-over-a-year-1060640171.html
SA Inflation Slows Above Target for First Time in Over a Year
SA Inflation Slows Above Target for First Time in Over a Year
Sputnik Africa
The South African Reserve Bank (SARB) targets inflation of between 3% and 6%. The last time the inflation rate did not exceed 6% in South Africa was 14 months... 19.07.2023, Sputnik Africa
2023-07-19T18:52+0200
2023-07-19T18:52+0200
2023-08-03T10:44+0200
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Annual core inflation in South Africa fell to 5.4% in June, falling below the upper bound of the Reserve Bank of South Africa's monetary policy target range, the country's statistics agency has said.In May, the year-on-year inflation amounted to 6.3%, thus, the decline in inflation for the month amounted to 0.9%.According to statistics, inflation for food and non-alcoholic beverages slowed for the third consecutive month, while prices for oils and fats decreased for the tenth consecutive month.The department also revealed that transport inflation has fallen sharply.However, the annual inflation rate for alcoholic beverages and tobacco increased by 0.2% compared to May.South Africa's Central Bank raised its main interest rate to 8.25% in May, the highest level in 14 years.
https://en.sputniknews.africa/20230612/south-african-food-inflation-starts-showing-some-relief-shisa-nyama-index-report-1059868236.html
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south africa, southern africa, inflation, central bank, economy
south africa, southern africa, inflation, central bank, economy
SA Inflation Slows Above Target for First Time in Over a Year
18:52 19.07.2023 (Updated: 10:44 03.08.2023) The South African Reserve Bank (SARB) targets inflation of between 3% and 6%. The last time the inflation rate did not exceed 6% in South Africa was 14 months ago, in April 2022.
Annual core inflation in South Africa fell to 5.4% in June, falling below the upper bound of the Reserve Bank of South Africa's monetary policy target range, the country's statistics agency has said.
In May, the year-on-year inflation amounted to 6.3%, thus, the
decline in inflation for the month amounted to 0.9%.
According to statistics, inflation for food and non-alcoholic beverages slowed for the third consecutive month, while prices for oils and fats decreased for the tenth consecutive month.
The department also revealed that transport inflation has fallen sharply.
"Annual transport inflation tumbled from 7,0% in May to 1,8% in June, dragged lower mainly by softer fuel prices," the statement said.
However, the annual inflation rate for alcoholic beverages and tobacco increased by 0.2% compared to May.
South Africa's
Central Bank raised its main interest rate to 8.25% in May, the highest level in 14 years.
